Nevada Administrative Code
Chapter 691C - Credit Personal Property Insurance
Section 691C.010 - "Guaranteed asset protection insurance" defined
Universal Citation: NV Admin Code 691C.010
Current through September 16, 2024
1. As used in this chapter, unless the context otherwise requires, "guaranteed asset protection insurance" means a policy or certificate of insurance written in connection with a credit transaction that covers the difference between the actual cash value of the vehicle and the outstanding loan balance or lease balance in the event of a total loss of the vehicle.
2. An endorsement to a motor vehicle policy is not considered guaranteed asset protection insurance.
Added to NAC by Comm'r of Insurance by R132-05, eff. 10-31-2005; A by R114-06, 3-23-2007, eff. 4-1-2007
NRS 679B.130, 691C.430
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